Despite the market-wide crypto rally, Onyxcoin (XCN) has failed to pick up steam and build momentum. While most digital assets are flying high, XCN has drawn a mere 5% in the past week. Trading witnessed a dramatic spike in volume of 77.7% and a volume of $82.3 million; still, the altcoin continues to be tethered at the resistance level, hinting at an uphill battle in the coming days.
The crossroads for XCN: in favor of momentum- the RSI is ascending, and perfect golden-cross scenarios are emanating from the heavens. But on the contrary, the BBTrend is casting great doubt on this situation and is a warning not to rely on optimism. It is a showdown. Will XCN be able to build on the breakout and run, or will the bears rise and drown it in the abyss? The market is holding its breath.
XCN RSI Surges to 62 as Bullish Momentum Builds
Onyxcoin entered into downright rampant territory. Forget the gentle climb-this had to be an almost straight vertical one! The RSI shot up from a sleepy 46.15 to 62.29 within 48 hours. Will this be the calm before the storm in crypto, or the sunrise for Onyx?
This rapid rise signals increased buying pressure and suggests that bullish sentiment is gaining strength.
Virtually a proxy for price momentum; the Relative Strength Indicator oscillates between 0 and 100. Usually, when it climbs past 70, beware-the asset is likely overbought and, due to a pull-back, might present some opportunity for sale. It deserves to be thought about as a warning: an overbought asset might close for some time. So anyone under 30 is regarded as a pullback and possibly set to rebound.
XCN RSI. Source: TradingView.
With XCN’s RSI now at 62.29, the token is nearing overbought territory but still has room to climb.
For Onyxcoin, it’s been flirting with the 70 mark since their phase began on 23 April. The bulls are gaining strength yet haven’t made the charge that usually precedes a retreat.
If the RSI continues rising, it could support further price gains, though traders will watch closely for signs of exhaustion.
Onyxcoin’s BBTrend Turns Negative Again After Brief Recovery
Onyxcoin’s BBTrend indicator has plummeted downwards to -2.69. This decline signals a further loss of momentum-gaining that had been just there with a fleeting rally. Taking a broader view, the persistent bearish undertow held Onyxcoin down from April 29th to May 8th, as the BBTrend remained stubbornly below zero.
Hope, for a mere moment, probably flickered on May 8th. The indicator touched the tempting 2.66, almost murmuring the forecast of trend reversal, only to disappear like a mirage.
Hold tight! The BBTrend rollercoaster has gone for yet another plunge, nosediving to dreadful -2.69, from a mildly scary -1.41. So now it seems like the short-term bears have once again tightened their grip on the market.
XCN BBTrend. Source: TradingView.
Do the market whispers evade your understanding? Grasp those hidden trends with the BBTrend indicator! The very tool that would reveal trends to you exercises strength on direction by measuring price movement along the Bollinger Bands. Release your competitive edge now; let BBTrend work his magic by converting price action into analyzable information.
Positive value stands as a rocket being ignited, blasting prices to unprecedented levels; neverending buyer enthusiasm is the fuel. Negative values become the ballast dragging prices downward: it signals that sellers are in control with potential landslide implications.
Bear-like XCN on BBTrend showing signs of a red light. Bulls are basically nowhere to be found. If it precludes any glimmer of opposition, buckle up; much worse obstacles still sleep on the upside, waiting for price cuts.
Golden Cross Forms on Onyxcoin: Can XCN Break Through Resistance?
Onyxcoin (XCN) flashes a golden light! The bullish golden cross pattern could trigger the surge in prices as short-term momentum eclipses the long-term trend. Is it the sunrise for XCN?
“Is XCN about to set off on a bull run? This surge could very well act as a beginning of the climb. This will require sharp attention from here on; if buyers remain aggressive, challenging the $0.020 ceiling will only become more of a possibility.”
Onyxcoin: Lighting Up The Altcoin Space. Fifty-once percent and still going higher in the forty-five days–the altcoin on fire for the year 2025. Prices are about to reach $0.024; take your seatbelt off. Next targets will be $0.0273 and beyond. This rally is so real.
XCN Price Analysis. Source: TradingView.
However, if the uptrend fails, key support levels could come into play.
The first area to watch is $0.0175 if that level is broken, XCN may decline to $0.0164.
Continued weakness could drag the price even lower to $0.0156.
Thanks for reading Onyxcoin (XCN) Faces Resistance Amid Mixed Market Signals
